The most popular and comprehensive Open Source ECM platform
Let us know more
Big Data: Analysts Mixed on Speed of Adoption — Is a Slowdown Coming?
IDC recently announced their forecast for continued strong growth in the Big Data technology. IDC estimates the Big Data will grow at an annual rate of 11 percent and reach $203 billion by 2020. The year Big Data industry revenues are expected to be $130 billion.
Jessica Goepfert, program director, Customer Insights and Analysis, said that “this year and over the life of the forecast, we’re expecting to see healthy growth in spending on big data and analytics technologies from nearly all industries, including banking and telecommunications… Within banking, many of these efforts are focused on risk management, fraud prevention and compliance related activities.”
But Gartner warns that Big Data may actually be facing a slow down in growth.
Nick Heudecker, research director at Gartner, said that investment in big data is “showing signs of slowing growth with fewer companies having a future intent to invest. The big issue is not so much big data itself, but rather how it is used. While organizations have understood that big data is not just about a specific technology, they need to avoid thinking about big data as a separate effort.”
Part of the issue is the scarcity of complete end to end solutions. There are too many startups with too many tools and products for big data. Building a targeted solution from all those pieces can be challenging. George Gilbert, Big Data analyst at Wikibon, said that “it’s sort of like putting Frankenstein together.”
